Hope you all have a good weekend.
I am going to nerd out for a few sentences. If you are not a finance, stock market, or economics nerd, do not read this.
Have a cup of coffee or send a snapchat to your boyfriend or girlfriend, a tasteful one.
I do not hear much about uber economist Joe Stiglitz these days, maybe because he is old.
However, he is the partial creator of the The Grossman-Stiglitz Paradox which proves that a perfectly efficient financial market is logically impossible.
“The paradox states that if stock prices always perfectly reflected all available information, no one would have an incentive to spend time or money uncovering that information, causing the system to collapse.”
With BlackRock recording more records into passive index funds, are we getting closer to a tipping point? Can passive keep piggybacking?
Ok, have a great weekend 🙂
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